VC Jargons 101: What Investors Really Mean When They Say “It’s Not a Fit"

Episode Summary“It’s not a fit.” “You’re too early.” “Let’s have one more meeting.” “We’re still building conviction.” If you’ve ever walked out of an investor meeting wondering what the hell any of that actually meant, this episode is for you.

In this episode of First Cheque, Cheryl and Maxine decode the language of venture capital — from fundraising and negotiations to what happens once an investor is on your cap table. They unpack what investors might really mean when they say you’re too early (or somehow too far along), why “one more meeting” can be a sign they’re sitting on the fence, and when “keep us in the loop” is actually just a polite no.

They also get into the weird world of VC jargon — including “conviction”, “due dilly”, “foundies”, “bridgie” and the ever-popular “let the lawyers sort it out”.

Once the cheque has landed, they unpack what it really means when investors ask for an update, start asking about runway and burn, want to see revenue hit a certain milestone, or suddenly ask, “How’s it going with X?” They also talk about why regular communication matters, even when things aren’t going well.

The big lesson? Founders shouldn’t have to speak fluent VC — and investors could probably do a much better job of explaining themselves.

Time Stamps00:00 – Intro: Welcome to VC Gibberish

01:20 – “It’s not a fit for us”: what does that actually mean?

03:05 – Is it the company, the stage… or the founder?

05:00 – The value of asking for honest feedback

06:03 – Investors could be clearer too

07:09 – “You’re too early”: is it really a no?

08:45 – What “too far along” actually means